BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,913 shares of the financial services provider's stock after selling 7,218 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Iron Mountain were worth $5,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRM. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the third quarter worth approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the second quarter valued at approximately $32,000. West Branch Capital LLC purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iron Mountain during the second quarter valued at approximately $36,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $36,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

IRM traded down $1.36 during trading on Tuesday, hitting $120.23. The company's stock had a trading volume of 2,275,232 shares, compared to its average volume of 1,591,721. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a one year low of $64.66 and a one year high of $130.24. The firm has a market cap of $35.28 billion, a PE ratio of 333.79, a P/E/G ratio of 7.27 and a beta of 0.98. The business's 50 day simple moving average is $120.65 and its 200-day simple moving average is $106.47.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.38%. Iron Mountain's payout ratio is 794.47%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IRM shares. BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, Barclays decreased their price target on shares of Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $131.00.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 5.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares in the company, valued at approximately $1,725,799.02. This represents a 36.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,125 shares of company stock worth $6,613,584 in the last three months. Company insiders own 2.10% of the company's stock.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.